Rolls-Royce slips as Omicron fears lower FTSE 100

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It’s a bad start to the day for Go-Ahead, who released the findings of an independent investigation into the Southeast Rail Saga.

The review found that the transport operator had made ‘serious mistakes’ in relation to the rail network, which was nationalized after it emerged that it had failed to repay the £ 25million owed to taxpayers.

Go-Ahead said the complex nature of the report forced it to postpone its annual results, which were due to be released next week.

Following discussions with the Financial Conduct Authority, shares are expected to be temporarily suspended from January 4.

5 things to start your day

1) Millions of people face higher energy bills due to Ofgem failures, according to Citizens Advice The regulator has not acted against unfit suppliers for almost a decade and has left a trail of “mistakes and missed opportunities”

2) Saga is the first company to offer paid leave to grandparents The insurance company and cruise line will now offer its staff a week of paid leave to celebrate the birth of a grandchild

3) Waterstones among 200 employers exposed for minimum wage breaches A total of 208 companies have an underpaid workforce of £ 1.2million between 2014 and 2019

4) Former Lloyds boss breaks Covid rules in Switzerland Antonio Horta-Osorio, now president of Credit Suisse, skipped the mandatory 10-day quarantine to fly to southern Europe

5) Mike Ashley spends £ 2million on helicopters and private jets in 12 months Sports Direct founder bill for his AgustaWestland helicopter and Dassault Falcon 7X jet jumps £ 100,000 through April 2020

What happened during the night

Asian stocks rose broadly on Thursday morning, after another strong advance from Wall Street as fears of the Omicron coronavirus variant eased.

In Hong Kong, the Hang Seng index rose 1.02 percent, although Tokyo plunged into negative territory, with the Nikkei down 0.09 percent.

After a roller coaster ride since Omicron emerged last month, investors are now optimistic about the outlook heading into Christmas.

In mainland China, Shanghai was up 0.48% and Shenzhen was also up. Jakarta, Singapore and Seoul were up slightly, while Wellington was down slightly.

Coming today

  • Business : On the beach, Victorian plumbing (Annual results); Dr Martens, DS Smith, FirstGroup, Moonpig, Seraphine (Intermediate results); Balfour Beatty, Rolls-Royce, S&U, Swiss Watches (Commercial update)
  • Economy: RICS housing market survey (UK), Unemployment benefit claims (WE), GDP (EU)


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